Mortgage Loan Underwriter

Kirtland Federal Credit Union•Albuquerque, NM

3d•Remote

About The Position

Kirtland Credit Union is seeking a Mortgage Loan Underwriter to join their team. This is a regular, full-time, position that is fully remote based on geographical location. The role involves reviewing and underwriting mortgage loans, identifying and analyzing loan risks, and ensuring the marketability of closed loans and the safety of Credit Union assets. The underwriter will approve, suspend, or deny loan applications, ensuring compliance with Credit Union standards, regulatory guidelines, and secondary market requirements. The position also involves supporting Mortgage Loan Personnel and upholding the credit union's mission, vision, and values.

Requirements

High school diploma required
Three years of directly related experience in the credit field required
General mortgage or real estate lending experience required

Nice To Haves

Bachelor’s degree in business or related field preferred
DE (Direct Endorsement) qualification from housing and urban development and can underwriter and approve government loans preferred
Licensed Mortgage Underwriter with direct experience operating under the LAPP/SAR (Lender Appraisal Processing Program / Staff Appraisal Reviewer) authority, actively issuing Notices of Value (NOVs) within the past year preferred
Proven expertise reviewing, analyzing, and approving residential appraisals in compliance with Fannie Mae guidelines preferred
Extensive experience utilizing Desktop Underwriter (DU) for automated underwriting decisions, risk assessment, and loan eligibility validation preferred
Strong background in credit, income, asset, and collateral analysis to support sound underwriting decisions preferred
Demonstrated ability to ensure regulatory compliance, maintain quality control, and mitigate lending risk preferred
Two years of Financial Institution experience preferred
Experience with calculating loan-to-value and debt to income preferred
Knowledge of financial statements, credit reports, tax returns, and appraisals preferred
Full understanding of FHA, VA, and conventional underwriting requirements preferred
Knowledge of Credit Union lending programs, policies, procedures, and standards preferred
Able to use all related computer applications preferred
Knowledge of real estate closing documents, loan products, and lending compliance and Regulations preferred
Knowledge of all applicable regulations and laws preferred

Responsibilities

Reviewing and underwriting mortgage loans.
Identifying, analyzing, and evaluating loan risks and compensating factors.
Ensuring the marketability of closed loans and the safety of Credit Union assets.
Approving, suspending, or denying loan applications.
Ensuring loans are approved within the terms of the Credit Union's standards and procedures, regulatory underwriting guidelines, and FHA, VA, and other secondary market requirements.
Providing support to Mortgage Loan Personnel.
Supporting the credit union’s mission, vision, values, strategic goals, and service standards.
Reviewing appraisals and ensuring that determined values are well documented.
Accurately evaluating the credit worthiness of potential borrowers.
Evaluating applicant's employment history and ensuring the probability of continued employment is good.
Verifying at least two years of employment history and ensuring that all income used in qualifying is expected to continue for at least 3 years or meets secondary marketing guidelines.
Evaluating the likelihood of job tenure.
Assessing overtime, bonuses, and commissions used to qualify.
Analyzing tax returns and balance sheets of self-employed applicants.
Evaluating the adequacy of the applicant's income and the probability that the member will be able to meet expected financial obligations.
Assessing family support requirements.
Comparing previous housing expenses with proposed expenses.
Examining income trends and determining possibilities for increased income in future years.
Assessing potential borrower's assets, ensuring they meet closing requirements, are derived from acceptable sources, and that acceptable levels of reserves will remain after closing.
Reviewing borrower's credit, the manner in which obligations have been met and financial affairs managed.
Investigating derogatory credit.
Ensuring that all previous mortgage histories are rated and all debts are appropriately listed and rated.
Ordering private mortgage insurance in compliance with PMI guidelines.
Completing all underwriting functions in accordance with various program requirements, Credit Union standards, and related legal and regulatory requirements.
Completing related documentation and reports.
Maintaining files and ensuring their completeness.
Ensuring that all lending conditions have been satisfactorily met prior to closing.
Establishing and maintaining effective communication and coordination with Credit Union personnel and with management.
Establishing and maintaining professional working relations with members and external lending professionals and governmental agencies.